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An Overview of Marketing

An Overview of Marketing. Market Planning Unit Enduring Understanding Students will understand that……. Marketing is customer focused. Marketing is much more than advertising and selling. A marketing plan is a roadmap for all companies' business efforts. Essential Questions.

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An Overview of Marketing

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  1. An Overview of Marketing

  2. Market Planning UnitEnduring Understanding Students will understand that……. • Marketing is customer focused. • Marketing is much more than advertising and selling. • A marketing plan is a roadmap for all companies' business efforts.

  3. Essential Questions • What is marketing? • How do marketers find their customers? • What makes marketing dynamic? • What causes a business to "close its doors"?

  4. What is Marketing? • A Philosophy • An Attitude • A Perspective • A Management Orientation A Set of Activities Financing Selling Distribution Promotion Pricing Marketing Information Management Product Service Management

  5. What is Marketing? American Marketing Association Definition

  6. What is Marketing? Customer valueand beneficial relationships Creating Value Place Product Exchange A B Delivering Value Price Promotion Communicating Value

  7. Why Study Marketing? Describe several reasons for studying marketing

  8. Reasons for Studying Marketing Why Study Marketing? ImportanttoSociety ImportanttoBusiness GoodCareerOpportunities + Marketing affects you every day!

  9. Marketing Management Philosophies Describe four marketing management philosophies

  10. Marketing Management Philosophies Sales 1930 -1940’s Market 1950-1970 Societal 1980 to present Production 1900-1920’s Orientation Focus is on… internal capabilities of the firm. Emphasis on producing and distributing new products aggressive sales techniques and belief that high sales result in high profits satisfying customer needs and wants while meeting objectives satisfying customer needs and wants while enhancing individual and societal well-being

  11. Market Orientation Marketing Concept: The idea that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives

  12. The Marketing Concept • Focusingon customer wants and needs to distinguish products from competitors’ offerings • Integrating allthe organization’s activities to satisfy these wants • Achieving the organization’s long-term goals by satisfying customer wants and needs legally and responsibly School bag activity

  13. Achieving a Marketing Orientation • Obtain information about customers, competitors, and markets • Examine the information from a total business perspective • Determine how to deliver superior customer value • Implement actions to provide value to customers

  14. Failure to Success Ford EDSEL Ford Mustang

  15. How Should a Business be defined?

  16. AVOIDING MARKETING MYOPIA Marketing myopia—Focusing on products/company rather than the customer. Results in failure to see and adjust to the rapid market changes.

  17. Societal Marketing • An organization exists not only to satisfy customer wants but also to preserve or enhance individuals’ and society’s long-term best interests. • Less toxic products • More durable products • Products with reusable or recyclable materials SocietalMarketing Orientation Method video The Body Shop - Values and Campaigns

  18. Building Relationships Relationship Marketing A strategy that focuses on keeping and improving Relationships with current customers.

  19. Building Relationships • Customer-oriented personnel • Employee training programs • Empowered employees • Teamwork Zappos YouTube - The Zappos Family on Nightline

  20. Defining a Firm’s Business • Use “customer benefits” instead of “goods/services” • -Ensures a customer focus • -Encourages innovation and creativity • -Stimulates an awareness of changes in customer preferences

  21. The Four Marketing Management Philosophies Orientation Focus Production What can we make or do best? Sales How can we sell more aggressively? Marketing What do customerswant and need? Societal What do customers want and need, and how can we benefit society?

  22. Societal Marketing Assignment Handout 1-22

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